German Gref Quotations

The price (of licensed product) needs to be acceptable for the (Russian) population. If it is not acceptable, it is a great advantage for pirates.

Since the beginning of the month inflation has been no more than 0.4% and is not likely to hit 0.6% by the end of the month.

We hope that under any scenario, the ruble's appreciation will range within 4-6% in 2006 and will eventually slow down by 1 percentage point per year.

We will allocate up to half a billion dollars for this purpose next year.

We were happy to hear that Volkswagen has made a final decision to start investment in Russia.

We will work hard to do that this year.

We have discussed the final arrangements for exhibitions and pavilions, well as meeting venues. We have seen everything that needs to be done to complete preparations for the forum.

These factors will pass, and the situation will be back to normal.

The size of the gray market should be reduced at least down to 15% by the end of this year.

Progress should be made on these two points. The bill on the repatriation of capital is being polished now.

This is the cornerstone of the government's policy and a major mid- and long-term challenge.

Foreign and Russian companies should have equal conditions of competition. If a foreign bank or insurance company wants to work on the Russian market, it can establish a subsidiary here. This entails higher standards of operation but equal conditions for all market players.

On average, we expect the ruble's appreciation to slow down by more than two times next year.

Inflation totaled about 4% over the two months, which was largely due to the Artic temperatures, and surge in consumer demand for salt.

Intensive and difficult talks are under way. However, we are optimistic that solutions to the remaining issues will be found in no more than one to one and a half months.

In my opinion, we have an opportunity to stay within the limits of the planned 9%.

Higher grain prices increase the risk of higher prices for bread products.

Higher economic growth without curtailed inflation is impossible.

By 2010, GDP will not be doubled but we will be able to achieve fairly high economic growth using additional mechanisms in the medium term to ensure that GDP will be doubled in the longer term.

The geography of these projects varies from mechanical engineering to the high-tech sphere and chemical industry.

The company has made a decision on investments.